5240 Louisiana Ave Saint Louis, MO 63111
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About this home
A rare city gem with soaring ceilings and endless potential! Discover an exceptional opportunity to own a massive 4-bedroom, 4-bathroom home that defies typical city living. This residence is bursting with endless possibilities for the discerning buyer looking to customize their dream space. This home is just 6 minutes from Carondelet Park and sits on a corner lot across the street from St. Cecilia Catholic Church. Step inside the oversized living room and prepare to be captivated by dramatic vaulted ceilings that flood the space with abundant natural light. The room is anchored by a charming fireplace and flanked by custom built-in bookcases, creating a grand, yet inviting, atmosphere. A true luxury in this style of home is the separate, dedicated dining room, an ideal venue for hosting family dinners and elegant entertaining. The dining room flows seamlessly to the private, fully fenced backyard, which offers a coveted level yard perfect for outdoor activities. The kitchen, located just off the dining room, offers generous cabinet and counter space, ready for your vision to transform it into a modern culinary haven. Convenience is key with an updated half bath and the highly sought-after main-level laundry, just off the dining room, eliminating the chore of basement trips forever. Venture up the staircase to the second floor, where an open balcony view overlooks the stunning vaulted living room below. This level hosts all four bedrooms, including a truly rare find: an expansive primary bedroom suite. The suite features an incredible three-closet system, including a massive walk-in closet, and an updated full bathroom with a double vanity—your private oasis awaiting its finishing touches. The most unique feature of this property is the enormous, detached multi-vehicle garage in the backyard (sold as-is). This space offers unparalleled utility, whether you need a workshop, extra storage, or parking for multiple cars. With a recent fresh professional cleaning , this home is a blank canvas, perfectly positioned for your TLC and personal design touches. It’s more than a house; it’s the ready-made sanctuary you’ve been searching for.
Source: MARIS #25066857
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.